The demand for discussions came as senior councillors agreed in principle that the size of the market could be reduced by 25 per cent and officers will now draw up a feasibility report on how that could be achieved.

The council’s executive board also agreed to reinvest up to £500,000 a year from the market’s profits which could be used to support the borrowing of up to £7m to improve the market.

The board’s discussion followed the recent publication of a report by consultants Quarterbridge – commissioned by the council – suggesting in future the management of the market could be handed to a limited liability partnership on a 99-year lease. It also suggested tenants might have to go through a “reselection process” for a stall if the market was revamped.